Global Delaware, Spitzberg Partners team up to support fintech, blockchain businesses

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May 5, 2017

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In a potential boon for the New York City to Washington D.C. corridor, Delaware’s international business development arm has aligned with Spitzberg Partners LLC, in a deal that will work to support developers, entrepreneurs and investors in the fintech and blockchain sectors.

The new program will target those, particularly from overseas, who seek to leverage Global Delaware’s “Blockchain Initiative,” an effort to provide distributed ledger technology for legal documents to private businesses operating in the state.

Steve Ehrlich, lead analyst for emerging technologies at Spitzberg Partners, and Andrea Tinianow, director at Global Delaware, will both be participating in One World Identity’s K(NO)W Identity Conference later this month, May 15 through 17 in Washington D.C. They will take part on a panel entitled “Regulating Blockchain and Distributed Ledger Identity,” which will discuss whether self-sovereign identity and regulation can coexist.

“This is a fantastic opportunity for European companies that are looking for a soft landing in the U.S.,” Tinianow said. “Delaware knows how to help businesses get up and running quickly, and we are delighted to join forces with Spitzberg to make the process easy and seamless for businesses seeking growth and success in the U.S.”

Many companies incorporate in Delaware, despite the state’s relatively small population, because of its corporate and tax laws that are favorable to businesses. The Global Delaware initiative seeks to expand the state’s business-friendly climate by helping companies develop markets overseas, attracting foreign companies, and expanding Delaware’s role in corporate governance.

Seeing a potential economic surge from blockchain, the state began beta testing its initiative at the Delaware Public Archives, rolling out “smart records” technology that automates compliance with laws pertaining to retention and destruction of archival documents.

Later this year, the program will be expanded to streamline Uniform Commercial Code (UCC) filings, while distributed ledger shares are planned for the future. In addition to its attractive business laws, Delaware also positions itself as a key east coast pathway to New York City and Washington D.C.

In aligning with Spitzberg Partners, Delaware hopes to tap into the firm’s core areas of expertise in emerging fintech and blockchain businesses. Together they plan to target a variety of markets that stand to benefit from secure blockchain databases, including biotech, healthcare, aerospace, manufacturing, and logistics.

“We are very excited about the potential of this strategic partnership and are extremely pleased to lend our services to help build and raise awareness of the Delaware Blockchain Initiative,” Spitzberg Managing Partner Ulf Gartzke said. “At Spitzberg Partners, we specialize in assisting innovative firms with establishing a beachhead in the U.S. as they expand beyond their home markets, and the advantages of the State of Delaware combined with the quality of Andrea Tinianow’s team are very compelling. There is a natural fit between our respective domain expertises.”